While the Gulf markets have enjoyed a good year so far, GCC debt market has not been able to reverse its year-to-date underperformance versus other emerging market benchmarks.
"While global EM credit funds have enjoyed healthy inflows, most GCC credits are not included in global EM benchmark indices and may thus have been unable to benefit from these flows to the full extent," said Andreas Kolbe, an analyst at Barclays Capital.
Gulf corporate earnings were strong in the first quarter and the healthy inflow of hydrocarbon-related revenues and government spending in the economies should give investors the confidence to participate in the bond bonanza that's gathering steam.
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